\begin{tabular}{llrr}

Statistic & Group/Formula & Independent & Correlated \\ 
\midrule
\multicolumn{4}{l}{"All defaults" method for estimating $ \alpha $} \\ 
\midrule
\multicolumn{2}{l}{Share with life event P(T*)}  &  &  \\ 
 & All underwater [1] & 50\% & 50\% \\ 
 & Underwater: defaulters [2] & 56\% & 77\% \\ 
 & Above water: defaulters [3] & 100\% & 100\% \\ 
\multicolumn{2}{l}{Share of defaults caused by life events}  &  &  \\ 
 & $ \hat{\alpha}$ = (2 - 1)/(3-1) & 0.11 & 0.54 \\ 
 & $ \alpha $ & 0.11 & 0.12 \\ 
 & $ \hat{\alpha} - \alpha $ & 0.01 & 0.42 \\ 
\midrule
\multicolumn{4}{l}{"Transition to default" method for estimating $ \alpha $} \\ 
\midrule
\multicolumn{2}{l}{Share with life event P(T*)}  &  &  \\ 
 & All underwater [1] & 40\% & 46\% \\ 
 & Underwater: defaulters [2] & 59\% & 62\% \\ 
 & Above water: defaulters [3] & 100\% & 100\% \\ 
\multicolumn{2}{l}{Share of defaults caused by life events}  &  &  \\ 
 & $ \hat{\alpha}$ = (2 - 1)/(3-1) & 0.19 & 0.25 \\ 
 & $ \alpha $ & 0.17 & 0.16 \\ 
 & $ \hat{\alpha} - \alpha $ & 0.01 & 0.09 \\ 
\bottomrule
\end{tabular}

